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Last Updated : Jul 21, 2020 06:08 PM IST | Source: Moneycontrol.com

Reduce Hero MotoCorp; target of Rs 2990: Dolat Capital

Dolat Capital recommended reduce rating on Hero MotoCorp with a target price of Rs 2990 in its research report dated July 21, 2020.

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Dolat Capital's research report on Hero MotoCorp

Hero Motocorp (HMCL) in its FY20 annual report, throws light on certain key aspects with regards to Covid-19 induced near term uncertainty on its business operations as well change in key trends. On the other hand, certain optimism is displayed due to certain factors such as potential recovery in semi urban/rural areas, increasing preference towards personal mobility due to safety needs and pent up in underlying demand. As incomes are affected due to the pandemic, downgrading is being witnessed, which may push up growth in the entry-level bike segment, HMCL is poised to gain incremental market share due to market leadership (69%).


Management's objectives include filling up gaps in the product portfolio (premium bike and scooters bikes) and improving penetration in export markets, although progress along with benefits accrued from above initiatives remain visible to a marginal extent, in current context.

For all recommendations report, click here

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First Published on Jul 21, 2020 06:08 pm